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2016 Contribution Limits for DC Plans & IRAs

  • 401(k), 403(b) and 457 Accounts
    $18,000 plus $6,000 catch-up contribution if you are age 50 or older
  • SIMPLE IRAs
    $12,500 plus $3,000 catch-up contribution if you are age 50 or older
  • SEP IRAs
    The lesser of 25% of employee's pay or $53,000
    Elective deferrals and catch-up contributions are not permitted
  • Traditional and Roth IRAs
    The lesser of $5,500 plus $1,000 catch-up contribution if you are age 50 or older, or your taxable income for the year

2016 Income Limits for IRAs

  • Roth IRAs
    $132,000 if single (phased out starting at more than $117,000)
    $194,000 if married filing jointly (phased out starting at more than $184,000)

2016 Retirement Savings Contribution Credit (Saver's Credit)

Less than $30,750 for singles or married filing separately

Less than $46,125 for head of household

Less than $61,500 for married filing jointly

Learn more about this tax credit at IRS.gov.

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2015 Contribution Limits for DC Plans & IRAs

  • 401(k), 403(b) and 457 Accounts
    $18,000 plus $6,000 catch-up contribution if you are age 50 or older
  • SIMPLE IRAs
    $12,500 plus $3,000 catch-up contribution if you are age 50 or older
  • SEP IRAs
    The lesser of 25% of employee's pay or $53,000
    Elective deferrals and catch-up contributions are not permitted
  • Traditional and Roth IRAs
    The lesser of $5,500 plus $1,000 catch-up contribution if you are age 50 or older, or your taxable income for the year

2015 Income Limits for IRAs

  • Roth IRAs
    $131,000 if single (phased out starting at more than $116,000)
    $193,000 if married filing jointly (phased out starting at more than $183,000)

2015 Retirement Savings Contribution Credit (Saver's Credit)

Less than $30,500 for singles or married filing separately

Less than $45,750 for head of household

Less than $61,000 for married filing jointly

Learn more about this tax credit at IRS.gov.

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This information is provided as general guidance. Please consult your tax adviser for information related to your own personal circumstance.